ADU Special

First, what is an ADU? It’s an accessory dwelling unit, typically 750 sf to 800 sf, allowed to be added to a property that already has one house on it. ADUs are recently finding favor in the zoning code as cities look for ways to combat the need for affordable housing. Allowing people to build a second, fully functioning home on their property helps create housing inventory without the need for more land. Use this loan type to add rental properties to your already existing portfolio of rental properties. We can help fund the new construction or rehab needed to create the ADU even if you already have the property financed. In special situations, we can lend in second place to the first mortgage. Our loan can have a six month to 9-month term, so there needs to be a plan to replace the loan with more permanent financing. Sometimes this is done as a refinance of the entire property once completed. Take advantage of this emerging trend.